Facing foreclosure, Miami Beach hotel owner sues Wells Fargo 

Hit with foreclosure complaints from two separate lenders, the owner of a Miami Beach hotel is suing one of them for alleged fraud, unjust enrichment and breach of contract. On Aug. 1, an entity managed by investor Luis Taic sued Wells Fargo Bank in Miami-Dade Circuit Court. Taic’s entity owns Z Ocean Hotel, which consists of the common areas, a ground-floor cafe, a parking deck and 22 units at the 88-key condo-hotel at 1437 Collins Avenue. The remaining units, of which 51 are managed by Sonesta Hotels, are owned by individuals and entities not affiliated with Taic, records show.  Five […]This article originally appeared on The Real Deal. Click here to read the full story.